China industrial investment slowing amid tepid demand: Deputy minister

June 23, 2016 09:42 AM

Growth in investment in China's industry is slowing amid tepid external demand, the deputy industry minister said on Thursday.

It will require hard work to meet China's industrial growth targets for 2016, Feng Fei said, according to a statement on the Ministry of Industry and Information Technology's website.

China will accelerate reductions in capacity in some sectors in the second half this year, using market-based measures, he added.

Weighed down by sluggish demand at home and abroad, industrial overcapacity and faltering investment, China's economic growth slowed to 6.9% in 2015, the coolest in a quarter of a century.

Beijing is aiming for economic growth of between 6.5-7% in 2016.

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